MIA share price up for the 4th successive session

Following yesterday’s 4.5% rise, the share price of Malta International Airport plc advanced by a further 0.6% today to a fresh 3-month high of €1.65 on the back of further demand for the equity. Increased volumes of over 29,300 shares changed hands today. During the first nine months of the year, MIA’s passenger movements have increased by 7.9% to 2,781,802.

Further bids were also evident in MaltaPost plc following the high trading activity that took place yesterday. The share price of the postal operator edged 1% higher to regain the €0.99 level on a single trade of 1,600 shares. MaltaPost is shortly expected to announce the date of publication of its September 2011 full-year results.

On the other hand, the banking equities retreated with Bank of Valletta plc dropping 1.2% to the €2.465 level on volumes of almost 9,000 shares. BOV generally publishes its preliminary full-year results by the end of October. HSBC Bank Malta plc eased 0.6% lower to close at the €2.64 level on volumes of 5,271 shares. Very low volumes of 200 shares of Lombard Bank Malta plc were exchanged today with the share price sliding 0.4% lower to the €2.58 level.

Renewed selling pressure was evident in GO plc as the equity slumped 6.1% to €1.052 – just above its all-time low of €1.05. Three trades took place amounting to 6,000 shares.

Grand Harbour Marina plc also dropped as its share price eased 1% lower to €1.95 despite last week’s announcement relating to the sale of a 30-metre berth for an undisclosed amount. This is the second sale at the marina this year following that of another 30-metre super-yacht berth for a total consideration of €436,320 in March.